Forex news for US trading on August 25, 2016

Markets:

  • Gold down $2 to $1322
  • WTI crude up 54-cents to $47.31
  • S&P 500 down 3 points to 2172
  • US 10-year yields up 1.3 bps to 1.57%
  • EUR leads, GBP lags

It's a quiet time of year that was locked into a freeze by an unwillingness to act ahead of Yellen's Jackson Hole speech at 1400 GMT on Friday.

EUR/USD took a run at 1.1300 in Europe and the US but fell short twice and then slipped back to 1.1270 before recovering to 1.1280.

USD/JPY pressed hard against 100.60 and touched 100.62 but has been locked a few pips below since. Durable goods added 15 pips to the upside from 100.45 but there was absolutely no follow through.

Cable was soft throughout the day and hit a session low of 1.3169 from 1.3230 at the start of the day in Asia. Most of the damage was done before New York arrived but it ticked a handful of pips below the European low late.

USD/CAD tried the downside but bids lurked at 1.2900 and even a couple of jumps in oil prices in North American trading could pull the pair back down. Last at 1.2925.

AUD/USD started US trading at 0.7605 and finished at 0.7615 without doing anything particularly notable along the way.

The good news is that today was likely the final day of the Summer doldrums.